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Actorsingers Bylaws
ARTICLE VI
FISCAL
Section 1. The fiscal year shall commence on the first day of July and shall end on the 30th day of June.
Section 2. The Executive Board shall be responsible for final approval of all organization budgets.
Section 3. The financial records of the organization shall be audited by the Audit Committee at least ten days prior to the annual meetings.
Section 4. Outside public auditors or other professional service may be retained at the discretion of the Executive Board at reasonable cost.
Section 5. All checks contracts and other instruments under seal shall be signed by both the President and the Treasurer. This privilege and/or procedure is subject to approval or revision by the Executive Board.
Section 6. The office of the Treasurer shall be bonded in a sum determined by the Executive Board.
Section 7. All funds of the organization shall be deposited into financial vehicles authorized by the Executive Board and may be expended only in furtherance of organization purposes.
Section 8. No officer or member shall receive salary for his/her services as such, but shall be entitled to reimbursement for reasonable expenses incurred in connection with the organization's business.
Section 9. Public rental of personal property of the organization shall be permitted. Rules and regulations governing such rentals will be found in the Policy and Procedure Manual.
Section 10. The Executive Board may create reserves for such purposes as it shall think beneficial to the organization, and may abolish the reserves in the manner created.
Section 11. Uniformity of Reports. All reports by officers and committee chairmen to the Board or general membership will follow a uniformity of format and presentation for each particular department as prescribed by the Board of Directors.
Section 12. Commercial Transactions between Actorsingers and any member of the organization may be authorized by a two-thirds affirmative vote of the Board of Directors provided a minimum of one other bid for the same service has been received.